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Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities have agreed 2009 thermal coal contracts with three Chinese producers at about $78.50 a tonne, down more than 45 percent from a year ago but in line with asking prices from China, two utility sources said on Wednesday.
Two separate utility sources said the five power companies have agreed to buy a total of three million tonnes of thermal coal from China's Shenhua Energy Co, China Coal Group and Datong Coal Mine Group.
The headline price of $78.50 a tonne is based on coal with a heating value of 5,800 kcal/kg (NAR) and is significantly higher than the low-$60s range which South Korean utilities were seeking as early as last month.
Apart from the agreed 3 million tonnes, South Korea's five power companies -- Kosep, Kospo, Komipo, Kowepo and Kewespo -- are also individually negotiating with Chinese producers for additional tonnage, said one of the utility sources.
"We've decided to settle with the Chinese because prices are now on an uptrend and there are also considerations that supplies may tighten in the third and fourth quarter, which could push prices higher," said the utility source who requested anonymity because he was not authorised to speak to the media.
The agreement, which was signed on Tuesday, comes amid a recent surge in Asian coal prices, which have jumped about 18 percent since May to about $74 a tonne on the globalCOAL Newcastle index, after touching a four-month high of $77.19 last week.
The long overdue settlement for contracts beginning from April may also set the tone for negotiations between Japanese utilities and Chinese miners, which have also been locked in annual contract talks since early this year.
Source: Reuters (http://www.reuters.com/article/rbssEnergyNews/idUSSYD47631820090617)
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Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
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- Videocon Industries ltd - India
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- Samtan Co., Ltd - South Korea
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- The University of Queensland
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- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
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- Sojitz Corporation - Japan
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- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
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- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
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- Coalindo Energy - Indonesia
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- Planning Commission, India
- Merrill Lynch Commodities Europe
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- Australian Coal Association
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
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- Independent Power Producers Association of India
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- New Zealand Coal & Carbon
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- Sakthi Sugars Limited - India
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- Borneo Indobara - Indonesia
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- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
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- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
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- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
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- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- White Energy Company Limited
- Parliament of New Zealand
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- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
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- Chamber of Mines of South Africa
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- Oldendorff Carriers - Singapore
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- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- The Treasury - Australian Government
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- ICICI Bank Limited - India
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- Interocean Group of Companies - India
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- Tata Chemicals Ltd - India
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- Medco Energi Mining Internasional
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- CNBM International Corporation - China
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- Sree Jayajothi Cements Limited - India
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- Indonesian Coal Mining Association
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- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
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- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
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- Malabar Cements Ltd - India
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- Sinarmas Energy and Mining - Indonesia
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- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
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- Kapuas Tunggal Persada - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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